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PriceSmart Announces March Sales

SAN DIEGO, CA -- (MARKET WIRE) -- April 9, 2007 -- PriceSmart, Inc. (NASDAQ: PSMT) announced
that for the month of March 2007, net sales increased 29.5% to $77.6
million from $59.9 million in March a year earlier. For the first seven
months ended March 31, 2007, net sales increased 20.7% to $502.4 million
from $416.0 million in the same period last year. There were 23 warehouse
clubs in operation at the end of March 2007 and 2006.

For the four weeks ended April 1, 2007, comparable warehouse sales for
warehouse clubs open at least 12 full months increased 27.3% compared to
the same four-week period last year. For the thirty week period ended
April 1, 2007, comparable warehouse sales increased 19.4% compared to the
comparable thirty week period a year ago.

While ordinarily not commenting on monthly sales results, the Company
indicated that the significant sales increase in March as compared to the
prior year was positively impacted by (i) the ICC World Cup of Cricket
being contested in several of the Company's Caribbean markets, (ii) a
merchandise promotion during March in most of the Central American
countries and the Dominican Republic, and (iii) the timing of Easter this
year which improved sales in the final week of March as compared to last
year when Easter was a week later in April.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style
membership shopping warehouse clubs in Central America and the Caribbean,
selling high quality merchandise at low prices to PriceSmart members.
PriceSmart now operates 23 warehouse clubs in 11 countries and one U.S.
territory (four each in Panama and Costa Rica; two each in Dominican
Republic, El Salvador, Guatemala, Honduras, and Trinidad; and one each in
Aruba, Barbados, Jamaica, Nicaragua and the United States Virgin Islands).

This press release may contain forward-looking statements concerning the
Company's anticipated future revenues and earnings, adequacy of future cash
flow and related matters. These forward-looking statements include, but are
not limited to, statements containing the words "expect," "believe,"
"will," "may," "should," "project," "estimate," "scheduled," and like
expressions, and the negative thereof. These statements are subject to
risks and uncertainties that could cause actual results to differ
materially, including the following risks: the Company had substantial net
losses in fiscal 2003, 2004 and 2005, and may not be able to sustain the
profitability it achieved in fiscal 2006 in future periods; the Company's
financial performance is dependent on international operations which
exposes the Company to various risks; any failure by the Company to manage
its widely dispersed operations could adversely affect the Company's
business; although the Company has taken and continues to take steps to
improve significantly its internal controls, there may be material
weaknesses or significant deficiencies that the Company has not yet
identified; the Company faces significant competition; the Company faces
difficulties in the shipment of and inherent risks in the importation of
merchandise to its warehouse clubs; the Company is exposed to weather and
other risks associated with international operations; declines in the
economies of the countries in which the Company operates its warehouse
clubs would harm its business; a few of the Company's stockholders have
control over the Company's voting stock, which will make it difficult to
complete some corporate transactions without their support and may prevent
a change in control; the loss of key personnel could harm the Company's
business; the Company is subject to volatility in foreign currency
exchange; the Company faces the risk of exposure to product liability
claims, a product recall and adverse publicity; a determination that the
Company's long-lived or intangible assets have been impaired could
adversely affect the Company's future results of operations and financial
position; and the Company faces increased costs and compliance risks
associated with compliance with Section 404 of the Sarbanes-Oxley Act of
2002; as well as the other risks detailed in the Company's SEC reports,
including the Company's Form 10-Q filed pursuant to the Securities Exchange
Act of 1934 on January 9, 2007. We assume no obligation and expressly
disclaim any duty to update any forward-looking statement to reflect events
or circumstances after the date of this presentation or to reflect the
occurrence of unanticipated events.